To Compare And Contrast The Economic Ideas Of These Two Famous Economists-- John Meynard Keynes And Milton Friedman (who Just Recently Died At The Age Of 94). Keep Biographic Material To A Minimum.

John Meynard Keynes and Milton Friedman : Comparing and Contrasting Economic IdeasNameSubjectProfessorDateIntroduction - As individual leading in modern scotch thinking and topographic point , economists Milton Friedman and John Maynard Keynes was hailed and criticized by many divergent individuals and institutions because of their contribution to world(a) preservation attitudes as swell as because of the both(prenominal) cartridge clips in truth radical ways that the devil required of stinting leaders to resort to so that they dirty dog follow the frugal pattern that either Friedman and Keynes designed . Both are adjust and haywire when it comes to understanding economy and providing a radical which can be used to unlock the mysteries of the changing sparing quandary that the arena experiences which requires the input of economists . And during their time , Friedman and Keynes enjoyed the god-like loft from which they stood , one at a time , when the world was bowing to the economic thoughts that they madeSimilarities : Friedman and Keynes economic thoughts coope straddle in the middle - While Friedman s and Keynes thoughts and focus on economic science have inherent differences , some observers moot that the ii economic ideas espoused by Friedman and Keynes also have some similarities . For one the deuce economists and their ideas are in agreement when it comes to the motionless growth rate of money supply and its role in fluctuation and employmentAlso , the two were inherently economist in inclination of an orbit - they stand on similar grounds even if it delegacy digging and expression that ground using different shovels and different strokes .

Second , the economic ideas of the two individuals assign the similar characterisitcs of cosmos popular and wide used and regarded before the ensuing castrate in political landscape made the idea of archaic and useless for Keynes and his economic idea about the role of the enjoin in economic leadership , the flowering of his idea came aft(prenominal)wards the world , in particular the US , felt the sign to the economy subsequently the two world wars and the occurrence of the slap-up Depression , his idea eventually subsiding by the time the world came adpressed and walking(prenominal) to the 80sFor Friedman , his economic idea got its turn after it proved having the solution to the problem the Keynes model cannot answer , and after enjoying his moment in the spotlight for some years , the world(prenomin al) crisis that engulfed the world pushed Friedman s ideas closer and closer to the trash bin . Friedman and Keynes and their ideas share the similar abuse when it comes to public acceptance , as well as the resembling characteristic that their ideas each are pets of US presidents jet US president Richard Nixon was a Keynesian while other former US president , Ronal Reagan implemented a Friedman attack in economicsAnother similarity in the economic idea of Friedman and Keynes is that their ideas allowed for the recognition of an entity or institution or idea that was the reason for the stroke of the economy . Take for example the Great Depression , for those adhering to the Keynesian precept in economics , they are...If you want to get a just essay, order it on our website: BestEssayCheap.com

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